Power Corporation

Decision-making and oversight for its sustainability strategy are assigned to the highest governance body, while implementation responsibilities are delegated to specific functions, teams, or committees within the organization. Additionally, the institution has a stewardship policy that aligns with its sustainability strategy, supporting environmental transitions and promoting social best practices.

The financial institution also actively monitors its Scope 1-2 emissions to manage and reduce its environmental impact.

Power Corporation has a publicly available policy statement affirming its commitment to respecting ILO core labour rights, as well as a separate statement expecting its suppliers to uphold the same standards. It explicitly states that it does not make political contributions.

Power Corporation has a list of ESG priorities, but lacks evidence of a material assessment. Recommendations include disclosing third-party assurance for target reporting and linking senior executive remuneration to sustainability targets. There is no evidence that it refrains from using lobbying to influence adverse sustainability outcomes. While it states it does not provide capital to certain fossil fuel projects, it does not address all fossil fuels. The institution discloses specific financed emissions but it is unclear if all financed emissions are reported. It monitors scope 3 emissions but could expand coverage and provide rationale for exclusions.

Recommendations also include establishing a transition plan and ensuring scope 1-3 emissions align with interim targets. It should disclose processes to avoid unintended divestment from low-income countries and include risks related to ILO fundamental rights in its risk assessment. Additionally, it should have a process for identifying social risks linked to the net zero transition and provide examples of actions taken regarding salient human rights issues from assessments in the past three years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.